I search over and over on internet and in books, but there is no definite answer.Any clarifications are appreciated.

Where property management companies make their money is in the additional fees that are outside of the management agreement... such as leasing, project management, asset management, etc.Despite this example, I've worked for 2 real estate investment firms that have brought the property management operations in house rather than outsource the task.

@Huso Akaratovic, try Bank of Internet.

Often I'm asked what are some of the tasks my property manager should perform for me as an owner/customer?

I find tax delinquent properties in areas I am targeting (driving/internet).

If you don't have one, search the internet for one.

I’ve also had good luck with bank of the internet through Costco if you get a membership there before applying get the black card, it gets you $300 off. 

boy I would not be fishing around the internet for this info it should take all of 30 minutes to get all these questions answered by simply walking into the planning department and talking with a planner as they walk you through the regs.. 

@Lisa Hall, difficult task to ask any lender to take a 2nd position on a primary residence.

The biggest advantage I have to getting started is the internet and a forum of landlords that tell you almost to a "T" what to do so you don't have the problems of landlords past.